Financial Statements, Statement of Directors - Hemas Holdings, Ltd

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Notes to the Financial Statements2011 2011 2010 2010Number Rs. Number Rs.14 STATED CAPITAL14.1 Fully Paid Ordinary Shares (14.1.1) 512,040,620 1,468,425,034 101,958,124 1,369,222,53414.1.1Fully Paid Ordinary SharesBalance at the Beginning of the Year 101,958,124 1,369,222,534 101,958,124 1,369,222,534Sub division of Shares 407,832,496 - - -Issue of Shares under Employee Shares Ownership Plan 2,250,000 99,202,500 - -Balance at the End of the Year 512,040,620 1,468,425,034 101,958,124 1,369,222,534The company exercised a sub division of ordinary shares in the proportion of 5:1 on 2 July 2010.14.2 Rights, Preferences and Restrictions of Classes of CapitalThe holders of Ordinary Shares are entitled to receive dividends as declared from time to time and are entitled to one vote pershare at a meeting of the Company.GroupCompany2011 2010 2011 2010Rs. Rs. Rs. Rs.15 RESERVES(a) Revaluation and Other Capital ReserveBalance at the Beginning of the Year 835,953,106 914,598,431 257,032,425 368,073,839Preference share issue/Adjustment on share transfers 101,250,000 - - (111,041,414)Transferred during the Year (9,256,164) (79,475,938) - -Net Gain/(Loss) recognised directly in Equity 119,208,913 830,613 - -Balance at the End of the Year 1,047,155,855 835,953,106 257,032,425 257,032,425(b)Exchange ReserveBalance at the Beginning of the Year (29,970,549) (76,923,588) - -Transfer from/(to) Retained Earnings 28,791,914 46,953,039 - -Balance at the End of the Year (1,178,635) (29,970,549) - -Total Reserves 1,045,977,220 805,982,557 257,032,425 257,032,4252011 2011 2010 2010Amount Amount Amount AmountRepayable Repayable 2011 Repayable Repayable 2010Within 1 Year After 1 Year Total Within 1 Year After 1 Year TotalRs. Rs. Rs. Rs. Rs. Rs.16 OTHER BORROWINGSGroupRent Deposits/ Advances - 10,242,872 10,242,872 - 8,790,222 8,790,222Non Interest Bearing Loans 1,207,000 - 1,207,000 1,207,000 - 1,207,0001,207,000 10,242,872 11,449,872 1,207,000 8,790,222 9,997,22282 Hemas Holdings PLC Annual Report 2010/11
2011 2011 2010 2010Amount Amount Amount AmountRepayable Repayable 2011 Repayable Repayable 2010Within 1 Year After 1 Year Total Within 1 Year After 1 Year TotalRs. Rs. Rs. Rs. Rs. Rs.17 INTEREST BEARING LOANS AND BORROWINGS17.1 GroupFinance Leases 1,171,946 3,551,097 4,723,043 2,243,309 5,607,057 7,850,366Bank Loans- Rupee Loans (17.1.1) 790,085,473 1,344,493,516 2,134,578,989 599,429,377 1,177,984,141 1,777,413,518- USD Syndicate Loan (17.1.2) - - - 287,267,682 47,938,510 335,206,192- USD Term Loan (17.1.3) 200,008,677 351,995,747 552,004,424 - - -Debentures (17.1.4) - - - 6,417,273 - 6,417,273Trust Receipt Loan- Standard Chartered Bank - - - 90,000,000 - 90,000,000Bank Overdrafts 1,388,997,315 - 1,388,997,315 969,609,133 - 969,609,1332,380,263,411 1,700,040,360 4,080,303,771 1,954,966,774 1,231,529,708 3,186,496,482As at Loans As at01.04.2010 Obtained Repayments 31.03.2011Rs. Rs. Rs. Rs.17.1.1 Rupee LoansBank Loans 1,777,413,518 1,550,513,484 (1,193,348,013) 2,134,578,989As at Loans Exchange As at01.04.2010 Obtained Repayments Gain/(Loss) 31.03.2011Rs. Rs. Rs. Rs. Rs.17.1.2 USD Syndicate LoanSyndicate Loan 335,206,192 - (330,704,820) (4,501,372) -The USD 39 Mn (Group Share - USD 18.35 Mn) syndicate loan facility was obtained from Hatton National Bank PLC, CommercialBank of Ceylon PLC, Peoples' Bank, Bank of Ceylon, Seylan Bank PLC , Sampath Bank PLC , DFCC Bank PLC to finance the thermalpower project of Heladhanavi Ltd. In September 2010, Heladhanavi Ltd., refinanced the total outstanding balance of thissyndicated loan by USD term loans obtained from Hongkong & Shanghai Banking Corporation Limited (HSBC) and StandaredChartered Bank PLC (SCB).As at Loans Exchange As at01.04.2010 Obtained Repayments Gain/(Loss) 31.03.2011Rs. Rs. Rs. Rs. Rs.17.1.3 USD Term LoanLong Term USD Loan - HSBC - 337,250,784 (55,795,592) (4,215,321) 277,239,871Long Term USD Loan - SCB - 315,396,120 (37,309,130) (3,322,437) 274,764,553- 652,646,904 (93,104,722) (7,537,758) 552,004,424HELADHANAVI LTDLong Term USD Loan - HongKong & Shanghai Banking Corp. Ltd.(a) Rate of Interest1 Month LIBOR + 3% p.a.(b) SecurityRegistered Undertaking to Mortgage over project Assets ( Land, Building, Plant and Machinery ) for USD 6,400,000.(c) FacilityThe USD 6.4 Mn Term Loan facility was obtained in order to settle the existing syndicate loan balance & to replace Rupee workingcapital loan by USD borrowings.(d)Terms of RepaymentsTerm Loan to be repaid in 36 equal monthly instalments of USD 177,778.Annual Report 2010/11 Hemas Holdings PLC 83
Page 2: Statement of Directors’ Responsib
Page 6 and 7: Statement of Changes in EquityGroup
Page 8: Cash Flow StatementGroupCompanyYear
Page 11 and 12: (b) Foreign OperationsThe Balance s
Page 13 and 14: For the purpose of cash flow statem
Page 15 and 16: valuation multiples, quoted share p
Page 17 and 18: Balance Additions/ Disposals/ Balan
Page 19 and 20: GroupCompany2011 2010 2011 2010Rs.
Page 21 and 22: Group Holding Company Holding Compa
Page 23 and 24: No. of Shares Carrying Directors' C
Page 25: GroupCompany2011 2010 2011 2010Rs.
Page 33 and 34: 29.2 Applicable Tax RatesAs per the
Page 35 and 36: 32 EVENTS OCCURRING AFTER THE BALAN
Page 37 and 38: 2 Fuel Transport Agreement with LTL
Page 39 and 40: Name of Nature of Assets Nature of
Page 41 and 42: 36. SEGMENTAL INFORMATIONInformatio
Page 43 and 44: 37 GROUP COMPANIESProportion ofOwne
Page 45 and 46: SHARE TRADING2011 2010Market PriceH
Page 47 and 48: GlossaryCAPITAL EMPLOYEDTotal share
Page 49 and 50: Form of ProxyI/We .................
Page 51: Corporate InformationLegal FormQuot

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